One of many types of games of chances where you have to guess the outcome of a game or a sports event is sports betting. Sports betting generally applies to most of the sports and is therefore available for soccer, basketball, tennis, volleyball, handball… like we wrote, almost all the sports you can think of. However, it’s also available for horse races, dog races, elections, and other things.
Sports betting is generally legal and offered by licensed betting shops, you can find all over the internet. If you wish to become a user of one of the online betting shops, visit this site to learn about the terms and conditions of using their services. The most important thing you’ll want the betting shop to provide you with is the payment of the assets when your bet is winning, right after the game, or the event has ended.
In the past two decades, this industry has faced witnessed an amazing development. Betting shops can be found on each corner in your local community, but there’s also a huge number of them online, offering at times even better conditions for playing than the real-time ones.
Judging by the first look, sports betting can seem complicated, but if you scratch the surface just a little bit you will find yourself managing just fine. Before you know it, you’ll be placing bets and winning games. What may confuse you, though, is all the slang and terminology being used by experienced players. This is exactly why we have put up with a list of the basic terms, with explanations, you can use as a guide.
ODDS. The options for betting are set by the betting shops, and you can calculate the probability of your winning by multiplying the stakes with the quota offered for a certain event.
Moneyline. This is the kind of betting where you bet on a direct win. When placing a bet like this you are betting on a simple, yet direct victory of the team you are betting on. This is by far the simplest way of betting in sports betting shops, and the most recommendable for beginners. It might not be the one that pays off most, though.
Handicap. One of the bets that are more cost-effective, is the handicap. There are a couple of them available, but the most famous one is Asian. How to explain in short… You are betting on our team to win, but also you are betting on how many goals difference your team will win.
Nickle and a dime. Basically, describes how much money you’re placing as your wager. Nickle refers to the amount of 500$, and a dime refers to 1000$ bet.
First half bet. When you place a wager, not on the final outcome of the game, but the result in the first half.
Arbitrage. The same term is used in some table games in a casino, but you’ll hear it also on sports betting. It means you ensure your profit by placing a bet on every outcome, regardless of what the result of the game will be. It usually happens when a specific odd makes the bookmaker disagree.
Double chance. Is the type of game where one of the participants in the game is eliminated from the start. Meaning your bet will need to score one out of two possible outcomes (home win or draw, home win or away win, away win or draw).
Odds-on. Not a good choice for betting, but still needs to be understood when you’re a beginner. It happens when you bet a certain amount of money on a team, but you end up losing your wage. Meaning that if the bet wins, you will earn less than your wage.
Favorite. In each game, there’s a team everyone expects to win, because of their past results and achievements. This term refers to them.
Martingale System. Also, one of the terms used both in casino betting and sports betting. When in the casino you will mostly hear in the table games. While in sports betting it means that after you lose, you double your wager on a game or an outcome.
Push. The sportsbook offers a line, and if your wager lowers down to the point when it’s on the line the sportsbook offered, you have to push to make money out of your bet. Let’s illustrate an example. If there’s a game played by Liverpool against Manchester. Liverpool is favored by 15 points against Manchester. You need to push if Liverpool wins exactly by 15 points, to get your money back.
Run Line. For those enjoying baseball, it’s a common bet. You put a wager on the number of the run scores that will happen in the game. In a typical one, there should be more or less 1.5. Sports betting shops might then offer another run line, depending on the situation with more or fewer runs scored.
Outsider. The word and its meaning are very much familiar to everyone and do not differ in this context as well. Just as there are favorites there are also outsiders. However, the outsider’s likelihood to win is way lower than the favorite. Which is why the odds are sometimes 1-1000. But if you feel like taking a risk, you never know, you may increase your wage by 1000.
Assessing the number of goals. These bets are super suitable and simple for beginners, which is the reason why we write about them. You place a bet based on your assumption of how many goals will be scored in a particular game. This will be no problem for the first-timers in sports betting, however, it should be noted that this marker also has an Asian type, so we highly suggest to educate yourself further before you sail in the turbulent waters of sports betting.
Since we’ve been writing about slang and terminology, this is a matter of language and one should keep in mind how changeable it is. But, no doubt once you start, you will keep your pace with it.